KnightBrook Auto Insurance Review (2024)

What You Should Know About KnightBrook Insurance

KnightBrook has an A- (Excellent) Financial Strength Rating (FSR) from A.M. Best, upgraded from a B++ (Good) rating several years ago. This means that the company has an excellent ability to meet its financial obligations. KnightBrook’s Long-Term Issuer Credit Rating (ICR) of A- (Excellent), which means that it has the ability to meet its senior financial obligations.

KnightBrook Insurance Coverage Options

KnightBrook Auto Insurance is a specialty insurance underwriter that focuses on niche business insurance. It does not offer any types of auto insurance coverage for personal use.

The KnightBrook Insurance Company does not offer personal lines of auto insurance, but there are many auto insurance companies where you live that do, including some of the best companies for personal auto insurance.

The Knight Insurance Group provides a variety of commercial products, including:

• Contractors Program – liability, property and completed operations for new commercial and residential construction
• Commercial Auto – reinsurance and long haul and intermodal transportation of general commodities and containerized freight
• Automotive Dealership – short-term material damage coverage; lender protection covering loan balance deficiency; loss, liability, and property coverage for non-franchised used auto dealers in Texas
• Automotive Rental – physical damage coverage for rental customers, commercial auto liability for rental car fleets, auto insurance coverages for rental customers, state minimum and excess liability insurance for rental customers
• Management Liability and Financial – insurance for property held as collateral for loans made by lending institutions, borrower default insurance, cash flow protection for structured life settlement portfolios, mortgage processor errors and omissions protection, and a variety of surety bonds

KnightBrook Insurance is affiliated with the Knight Insurance Group and the Hankey Group of Companies, a Los Angeles-based financial services group comprised of eight operating companies with 2,300 employees.

The Hankey Group of Companies subsidiaries, all privately-held, are:

• Hankey Investment Company, LP, a real estate investment, development, and finance firm
• Hankey Capital, a direct lender that originates bridge financing in the $2-$100 million range
• Westlake Financial Services, a financial services provider with sister and subsidiary companies Westlake ALPS, Westlake Flooring, Wilshire Consumer Credit, and Western Funding
• Knight Insurance Group, through the insurance companies KnightBrook Insurance Company, Knight Specialty Insurance Company, and Knight Re, offers commercial auto, general liability, financial guaranty, and other specialty insurances
• Nowcom, a technology firm that develops and supports solutions for automotive and financial services companies
• North Hollywood Toyota, a California-based auto sales and service company
• Midway Car Rental, a car rental company with locations in Southern California
• HFC Acceptance, LLC, a firm that specializes in providing fleet financing for rental car operators

You may also want to find out what are the best commercial auto insurance companies.

What programs are available from KnightBrook?

The KnightBrook Insurance Company uses a 10-step process to maintain the high standard of underwriting insurance products and special programs. These ten steps are:

• Quantitative review – determines if the product is worth the time and investment of both the partner and the KnightBrook Insurance Company
• Qualitative review – questions one-on-one or to groups of people to help define problems and learn more information about the customers
• Program structure – outlines the deal and makes sure that all parties involved have the same goals
• Form development and approval – the development stage of the process
• Rate making and approval – Ensures that the rates will contribute to the program’s success
• State filings – documents filed with the state that proves financial responsibility
• Information technology and accounting integration – function to make sure that the program has open communication and meets the expectations of all the parties involved
• Claims communication – communicate with clients about claims including the filing, processing, and payouts
• Performance –
• Results analysis – analyze the finished product and determine customer satisfaction

With these many programs, chances are good you will find something that works for out.